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# In a certain fund, 40 percent of the money is invested in stocks, and

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Senior PS Moderator
Joined: 26 Feb 2016
Posts: 3332
Location: India
GPA: 3.12
In a certain fund, 40 percent of the money is invested in stocks, and  [#permalink]

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23 Oct 2018, 13:19
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Difficulty:

15% (low)

Question Stats:

96% (01:35) correct 4% (04:06) wrong based on 33 sessions

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In a certain fund, 40 percent of the money is invested in stocks, and of that portion,
20 percent is invested in preferred stocks. If the mutual fund has $576 invested in preferred stocks, what is the total amount of money invested in the fund? A.$960
B. $1440 C.$2880
D. $4608 E.$7200

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Joined: 20 Feb 2015
Posts: 762
Concentration: Strategy, General Management
Re: In a certain fund, 40 percent of the money is invested in stocks, and  [#permalink]

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23 Oct 2018, 23:20
pushpitkc wrote:
In a certain fund, 40 percent of the money is invested in stocks, and of that portion,
20 percent is invested in preferred stocks. If the mutual fund has $576 invested in preferred stocks, what is the total amount of money invested in the fund? A.$960
B. $1440 C.$2880
D. $4608 E.$7200

Let the total money be x
.4x = in stocks
.2(.4x) = 576
.08x = 576
x = 57600/8 = 7200
E
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Re: In a certain fund, 40 percent of the money is invested in stocks, and  [#permalink]

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23 Oct 2018, 23:36
pushpitkc wrote:
In a certain fund, 40 percent of the money is invested in stocks, and of that portion,
20 percent is invested in preferred stocks. If the mutual fund has $576 invested in preferred stocks, what is the total amount of money invested in the fund? A.$960
B. $1440 C.$2880
D. $4608 E.$7200

Let total fund be 100

Amount invested in Stocks = 40
Amount invested in Preferred Stocks is 20% of 40 = 8

So, Value of Total Investments is $$\frac{576}{8}*100 = 7200$$, Answer must be (E)
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Re: In a certain fund, 40 percent of the money is invested in stocks, and   [#permalink] 23 Oct 2018, 23:36
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